Few expected the super committee to amount to any real agreement, and it was unlikely to ever have engaged in any sort of economic stimulus — which would have counted against its deficit-cutting target.

This failure was largely expected by the stock market — and most Americans — but it doesn't speak well for Congress' ability to agree on the payroll tax cut and unemployment benefits, which most believe will get done by the end of the year.

Rep. Jeb Hensarling (R-TX), one of the co-chairs of the super committee, said over the summer that he was open to allowing the payroll tax cut to expire.

"It's always a net positive to let taxpayers keep more of what they earn," he said, "but not all tax relief is created equal for the purposes of helping to get the economy moving again."

The House is only scheduled to be in session for eight more days this year after the Thanksgiving holiday, and it remains to be seen whether there is the political will — or even the ability — to reach an agreement on these measures before they expire on January 1st.